Comerica Loan definition

Comerica Loan means that certain $35,000,000 Line of Credit Loan from Comerica Bank to Guarantor.
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Comerica Loan has the meaning assigned to such term in Section 4(c).
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Comerica Loan means certain Credit Agreement by and between Comerica Bank, Trupet LLC, Xxxx X. Word III and Xxxx X. Xxxxxx, dated as of May 1, 2017, as amended.
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Examples of Comerica Loan in a sentence

  • The Security Documents shall be sufficient, when notice thereof is properly filed or recorded in the appropriate jurisdictions, to grant to the Bank a first perfected security interest in and lien on the Borrower's property, subject to no prior Liens or encumbrances except as expressly permitted herein, except the equal and ratable lien, if any, to be granted pursuant to the Comerica Loan Agreement, or except as the Bank permits in writing.

  • Comerica LoanIn December 2014, the Company entered into a Loan and Security Agreement with Comerica Bank, or the Comerica Loan, to borrow up to $10 million.

  • The Company has the right to repay any borrowings on the Comerica Loan in full without prepayment penalty.

  • Any advances made on the Comerica Loan would become due in December 2018.

  • The Company issued a warrant for the purchase of Series A preferred equal to 1.5% of the total borrowings under the Comerica Loan divided by the warrant purchase price of $8.5344 per share.

  • Except as contemplated hereby, and pursuant to the Comerica Loan Agreement, neither the Borrower nor any of the Restricted Subsidiaries has signed any agreement or instrument in effect on the date hereof authorizing any secured party thereunder to file any such financing statement, deed, agreement, or other instrument (other than any such agreement or instrument relating to the Liens permitted under paragraph (d) or (f) of the definition of Permitted Liens).

  • The Comerica Loan may be drawn upon by the Company through December 2015.

  • However, if we are unable to meet the financial covenants under the Comerica Loan Agreement, the revolving line of credit and notes payable will become due and payable immediately.

  • If no advances are made on the Comerica Loan by December 29, 2015, the warrant will terminate.

  • The Comerica Loan bears interest at either Comerica’s Prime Reference Rate or LIBOR plus Comerica’s LIBOR Spread Rate, as defined in the Comerica Loan.


More Definitions of Comerica Loan

Comerica Loan that loan in the current principal amount of not more than $30,000,000.00 to Pilgrim's Pride S.A. de C.V. from Comerica Bank, pursuant to that certain Revolving Credit Agreement dated as of March 9, 1998, as it may be amended from time to time, and including any loan to refinance the principal owing under such loan so long as the amount of such refinance loan does not exceed $30,000,000.00 principal.
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Comerica Loan means the loan in the amount of $180,000,000 from Wachovia Bank, National Association to Comerica Borrower made pursuant to the Comerica Property Senior Loan Agreement.
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Comerica Loan shall have the meaning as set forth in Section 5.13.
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Comerica Loan means all obligations of Company to Comerica which exist as of, or may accrue after, the Signing Date.
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Comerica Loan that loan in the current principal amount of not more than $30,000,000.00, pursuant to that certain Revolving Credit Agreement among Grupo Pilgrim’s Pride Funding S. de X.X. de C.V., Comerica Bank and Comerica Xxxx Xxxxxx, S.A., dated as of September 7, 2001, as it may be amended from time to time, and including any loan to refinance the principal owing under such loan so long as the amount of such refinance loan does not exceed $30,000,000.00 principal.
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Related to Comerica Loan

  • VA Loan means a Mortgage Loan which is subject of a VA Loan Guaranty Agreement as evidenced by a loan guaranty certificate, or a Mortgage Loan which is a vendor loan sold by the VA.

  • Credit/Debit Card means a thin plastic card that contains identification information, with the help of which the cardholder can pay for purchases and services, as well as withdraw cash from the account.

  • Noteless Loan means a Loan with respect to which (i) the related loan agreement does not require the obligor to execute and deliver an Underlying Note to evidence the indebtedness created under such Loan and (ii) no Underlying Notes are outstanding with respect to the portion of the Loan transferred to a Fund.

  • Bank Loan means a debt obligation, other than a Security or a participation in such debt obligation, customarily referred to by investors as a “bank loan”.

  • Second Lien Bank Loan means a Bank Loan (other than a First Lien Bank Loan and a Last Out Loan) that is entitled to the benefit of a first and/or second lien and first and/or second priority perfected security interest on all or substantially all of the assets of the respective borrower and guarantors obligated in respect thereof.

  • Pledged Asset Mortgage Loan A Mortgage Loan as to which, at the time of origination, a Letter of Credit was issued in favor of the initial holder of such Mortgage Loan.

  • Commercial loan means a loan that is not made primarily for

  • SOFR Loan means a Loan that bears interest at a rate based on Term SOFR, other than pursuant to clause (c) of the definition of “Alternate Base Rate”.

  • Second Lien Loan A Mortgage Loan secured by a second lien Mortgage on the related Mortgaged Property.

  • Prime Loan means any Loan tied to the Prime Rate.

  • Collateral Loan means a Senior Secured Loan, a Senior Secured Bond, a First Lien/Last Out Loan or a Second Lien Loan or a Participation Interest in any Senior Secured Loan, First Lien/Last Out Loan or Second Lien Loan that as of the date of acquisition by the Borrower meets each of the following criteria:

  • Credit card means any card, plate, coupon book, or other credit device ex- isting for the purpose of obtaining money, property, labor, or services on credit.

  • Borrower Loan Agreement means this Borrower Loan Agreement.

  • Overadvance Loan means a Base Rate Revolving Loan made when an Overadvance exists or is caused by the funding thereof.

  • Second Lien Loan Documents means the “Loan Documents” as defined in the Second Lien Credit Agreement.

  • Master Note means a Master Promissory Note in the form mandated by Section 432(m)(1)(D) of the Higher Education Act, as added by Pub. L. 105-244,ss. 427,112 Stat. 1702 (1998) as amended by Public Law No: 106-554 (enacted December 21, 2000) and as codified at 20 U.S.C.ss. 1082(m)(1).

  • Lender PMI Mortgage Loan Certain Mortgage Loans as to which the lender (rather than the borrower) acquires the Primary Insurance Policy and charges the related borrower an interest premium.

  • RFR Loan means a Loan that bears interest at a rate based on the Adjusted Daily Simple SOFR.

  • Equipment Loan means middle market equipment loans that consist of loans made to obligors in the United States of America primarily secured by new or used transportation equipment and managed by the Equipment Finance reporting category of the Commercial Lending and Leasing division of GE Capital.

  • Funding Loan Documents means (i) this Funding Loan Agreement, (ii) the Borrower Loan Agreement, (iii) the Regulatory Agreement, (iv) the Tax Certificate, (v) the Borrower Loan Documents, (vi) all other documents evidencing, securing, governing or otherwise pertaining to the Funding Loan, and (vii) all amendments, modifications, renewals and substitutions of any of the foregoing.

  • Borrower Loan means the mortgage loan made by the Governmental Lender to the Borrower pursuant to the Borrower Loan Agreement in the aggregate principal amount of the Borrower Loan Amount, as evidenced by the Borrower Notes.

  • First Lien Bank Loan means a Bank Loan that is entitled to the benefit of a first lien and first priority perfected security interest on a substantial portion of the assets of the respective borrower and guarantors obligated in respect thereof.

  • Line of Credit Note shall have the meaning given the term in Section 2.1.a.

  • Borrower Loan Documents shall have the meaning given such term in the Borrower Loan Agreement.

  • Refinance Loan Any Mortgage Loan the proceeds of which are used to refinance an Original Mortgage Loan.